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20121027
20121104
Search Results 0 to 22 of about 23 (some duplicates have been removed)
's response to a hurricane. he was in two weeks after hurricane katrina. are you confident that fema is prepared given the sheer size of this storm, almost a thousand miles in dimer. >> it is a huge storm and the impact will on the storm is so big, it is impacti sever states from dall the way up to maine at the same time. but i am rae very comfortable. we have a great administrator running the organization. he gets it, he's from florida, a good emergency manager. doesn't run around with his hair on fire. so i'm confident they will do a good job. >> on a conference call today n fact, your successor, mr. fugate said the disaster fund at fema has a billion dollars in t more or less. is that enough for this kind of response that will be necessary? >> probably at the end of the day the expenses will be more than that. but yes, it's enough for now. what the president has de, he psident has done a prelandfa declaration of all of the states up the east coast. so that allows the administrator to move supplies in now, move people in now, rescue teams in, and to get ready, work with those emerg
and new jersey have both been declared major disaster areas, which means fema will pay 75% of local governments' costs. the other 25% are shared by state and local governments. fema also has the green light to help families in hard-hit areas pay for damage that's not covered by their insurance plans. the money comes from fema's disaster relief fund. right now, it has $3.6 billion. congress has also allotted an additional $7 billion, and officials say they're confident they can foot the bill. of course, private insurance companies will also pay out claims for damage, early estimates, put the insurance industry's tab at $10 billion. still, some policy holders who didn't separate flood insurance, could be in for a big surprise. >> those policies are available through the national flood insurance program. however, if you didn't have one, you may have a situation where you're not going to have coverage for your loss if all you had was flood damage. >> reporter: insurance companies say adjusters are ready to start assessing damage and paying claims. but the scope of the damage could slow
is finished. fema said today is now working on restoring power and helping people who lost their homes find places to stay. then, it will be time to assess the damage and start working through insurance claims. but as sylvia hall reports, it could be difficult for consumers to get paid. >> reporter: if you have flood insurance, it comes from a government fund called the federal flood insurance program that's backed by the treasury. most people who don't need it, don't buy it, making it hard for the program to pay for itself in the wake of a major disaster. so it's probably no surprise that back in 2005, hurricanes katrina and rita drained the fund and plunged the program $18 billion into debt. it's debt congress planned to forgive, but hasn't yet. that leaves the program on poor financial footing with only about $4 billion worth of funds available for claims related to sandy. >> from what i've seen, this could be a $5 billion to $10 billion flooding event, so more than likely, the program will have to go to congress to get additional borrowing authority. >> reporter: former program administ
are on a rescue mission in new jersey and new york's hardest- hit areas. fema is pulling in generators and working with power companies to get the lights back on. the storm's damage was so severe that president obama quickly declared major disasters in new york and new jersey overnight. the decision frees up federal dollars to help families and businesses recover their losses. it also allows the u.s. to reimburse local and state governments for some of the expenses they'll face as they rebuild. the east coast may be cleaning up, but sandy isn't finished. the storm is plowing inland, dumping snow across the appalachians. with sandy still churning, it's near impossible tonohow extensive the damage will be or how long the cleanup will last. sylvia hall, nbr, washington. >> tom: earlier, susie mentioned the challenges of getting around one of the world's largest and most congested cities with no public transportation. city buses began rolling on new york streets at 5:00 p.m. eastern time today, but only partial service and on a reduced schedule. we have more on the work ahead to get new york moving ag
Search Results 0 to 22 of about 23 (some duplicates have been removed)